BUCHAREST (Romania), April 1 (SeeNews) – The Bucharest Stock Exchange, BVB, said on Wednesday that it has received confirmation from global index provider FTSE Russell that it is on track to be included in the FTSE Russell Emerging Market indices in September.
FTSE Russell announced in its March interim review that Romania will be reclassified from frontier to secondary emerging market status with effect from September 2020, BVB said in a press release. However, Romanian securities will only be added to the FTSE Global Equity Index Series (GEIS) if a minimum of two securities meet the FTSE Global All Cap Index eligibility requirements based on data as at 30 June 2020.
Based on BVB calculations and the current values of considered free float number of shares, at the end of March, there are two Romanian companies that are on track to be included in the FTSE emerging market indices, namely Banca Transilvania [BSE:TLV] and S.N. Nuclearelectrica [BSE:SNN], and they should continue to meet the liquidity criteria in the next three months.
Banca Transilvania's shares were trading flat at 23.3 lei as at 1022 CET on Wednesday on the BVB, while Nuclearelectrica's share price was 0.14% lower at 13.8 as at 1328 CET.
The global index provider FTSE Russell announced in September that Romania was promoted from the frontier market status to the secondary emerging market status.
(1 euro = 4.8246 Romanian lei)
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